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Marketable securities
12 Months Ended
Dec. 31, 2024
Marketable Securities [Abstract]  
Marketable securities Marketable securities
Marketable securities at December 31, 2024 consisted of the following (in thousands):
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Marketable securities, current:
Corporate debt securities$164,469 $189 $(85)$164,573 
U.S. Treasury securities18,291 12 (1)18,302 
U.S. government debt securities6,527 — 6,531 
Marketable securities, non-current
Corporate debt securities22,424 12 (78)22,358 
Total marketable securities, current and non-current$211,711 $217 $(164)$211,764 
Marketable securities at December 31, 2023 consisted of the following (in thousands):
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Marketable securities, current:
Corporate debt securities$100,903 $16 $(221)$100,698 
U.S. government debt securities20,457 14 (43)20,428 
U.S. Treasury securities5,965 — 5,966 
Marketable securities, non-current
Corporate debt securities27,901 120 (14)28,007 
Total marketable securities, current and non-current$155,226 $151 $(278)$155,099 
Marketable securities classified as current have maturities of less than one year. Marketable securities classified as non-current are those that: (i) have a maturity of greater than one year, and (ii) we do not intend to liquidate within the next twelve months, although these funds are available for use and, therefore, are classified as available-for-sale. No available-for-sale debt securities held as of December 31, 2024 or December 31, 2023 had remaining maturities greater than five years.
Marketable securities in unrealized loss positions as of December 31, 2024 consisted of the following (in thousands, except number of securities):
Number of
Securities
Fair
Value
Gross
Unrealized
Losses
Marketable securities in continuous unrealized loss position for less than 12 months:
Corporate debt securities41$62,447 $(163)
U.S. Treasury securities22,981 (1)
U.S. government debt securities11,986 — 
Total marketable securities in unrealized loss position44$67,414 $(164)
Marketable securities in unrealized loss positions as of December 31, 2023 consisted of the following (in thousands, except number of securities):
Number of
Securities
Fair
Value
Gross
Unrealized
Losses
Marketable securities in continuous unrealized loss position for less than 12 months:
Corporate debt securities64$68,563 $(146)
U.S. government debt securities911,914 (22)
Marketable securities in continuous unrealized loss position for greater than 12 months:
Corporate debt securities1822,138 (89)
U.S. government debt securities35,979 (21)
Total marketable securities in unrealized loss position94$108,594 $(278)
Based on factors such as historical experience, market data, issuer-specific factors, and current economic conditions, the Company did not record an allowance for credit losses at December 31, 2024 and 2023, related to these securities.